22nd Apr 2014 06:28
LONDON (Alliance News) - Anglo American PLC is preparing the way to exit part of its South African platinum business, after three months of labour strikes in the region, according to the Financial Times on Monday.
The FTSE 100 miner is in talks with the South African government to try to eventually withdraw from its deep platinum mines at Rustenburg, said the FT.
The platinum sector in South Africa has been massively affected by three months of strikes at mines owned by Lonmin PLC, Impala Platinum and Anglo American, as the Association of Mineworkers and Construction Union in the country attempts to achieve significantly better wages.
The Financial Times said no decision had yet been taken on how to exit Rustenburg and Anglo is not in specific talks over the sale, which could turn out to be a lengthy process.
http://www.ft.com/cms/s/0/be774b9e-c648-11e3-ba0e-00144feabdc0.html#axzz2zajjCaiA
By Tom McIvor; [email protected]; @TomMcIvor1
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